As summer ends in Los Angeles, the city’s real estate market continues to show signs of robust strength for sellers. Multiple offers are still the common occurrence - especially for homes priced up to the $3M range, which responds most to the historic low mortgage interest rates fueling affordability, qualifying and lower monthly cost. Recently, one of our listings received 17 offers. It is more common for sellers to see 3-4 offers in these competitive categories & neighborhoods. Market-tuned pricing is key, and savvy sellers enter strategic price discussions with us to achieve best results.
Luxury price ranges are experiencing a more balanced and “normal” market reaction --if there is such a thing as a normal market. Well priced estate properties receive swift attention, but those priced over market can sit longer and require price reductions in order to receive buyer offers. There is no short cut -- wise pricing is the key.
Our team has received national attention due to our sales production but also because of our reputation within the industry for high ethics and demonstrating the best principles of practice for agents. Teams are the fastest growing segment of the Real Estate Industry. About 28% of working agents are on a team. Teams offer additional service platforms to their clients. Team agents benefit from shared experience and internal networking for faster solutions helping clients or finding properties for them.
I love being our Team Captain and helping to shape the careers of my 26 team colleagues. It energizes me every day because I learn from them and they learn from me -- it’s a mutual exchange. Our team is one of the most diverse in California, drawing from many different backgrounds and cultures. Check out some of their bios on our website and you’ll be impressed. Best wishes for a sweet September!
-Ernie
